Polestar Automotive, the renowned Swedish electric performance car brand, has released its global delivery figures for the fourth quarter of 2023. The company delivered approximately 12,800 cars during this period, with 880 Polestar 4 vehicles finding homes in China. This brings Polestar's global deliveries for the year to approximately 54,600 cars, showcasing a significant 6% growth compared to the previous year, 2022.
Despite a challenging market, Polestar remains steadfast in protecting its exclusive brand position, resulting in a slight dip in deliveries in the fourth quarter. The company now anticipates a gross profit margin for the full year of around break-even.
Thomas Ingenlath, Polestar CEO, expressed enthusiasm about the positive reception of the Polestar 4 in China. He highlighted the successful ramp-up of production and the imminent sales launch of the SUV coupé in Europe and Australia in the coming weeks. Ingenlath also indicated the company's strategic shift from a one-car to a three-car company, setting the stage for a transformative and exciting 2024.
Polestar is gearing up for further expansion, with the first deliveries of the Polestar 3 expected in the summer. The company plans to post its preliminary unaudited financial and operational results for the full year 2023 on Thursday, 29 February 2024, before the market opens in New York. A live audio webcast is scheduled to begin at 08:00 US Eastern Time (14:00 Central European Time).
Polestar (Nasdaq: PSNY) is a Swedish electric performance car brand committed to using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, Polestar cars are available online in 27 markets globally across North America, Europe, and Asia Pacific.
In the UK, Polestar is based in Bicester, Oxfordshire, with four retail locations known as Polestar Spaces. These spaces allow customers to physically engage with non-commissioned Polestar Specialists and arrange test drives.
Polestar plan to introduce five performance EVs by 2026, with the Polestar 2 and Polestar 3 already launched. The Polestar 4, Polestar 5, and Polestar 6 are set to follow, and the Polestar 0 project supports the company's goal of creating a truly climate-neutral production car by 2030.